Italy’s power group Edison and Britain’s BG are the main competitors for a stake in Egypt’s Abu Qir gas field and bidding results will be announced soon, Egyptian Oil Minister Sameh Fahmy has said.
“There was bidding and we are assessing offers now … Lots of majors (took part), but I think the main competition is going to be between Edison and BG,” Fahmy told reporters on the sidelines of the International Energy Forum in Rome, Reuters reported.
“Edison may have a very good deal in Egypt soon… We expect a decision within a few weeks,” Fahmy said.
According to various estimates, the Abu Qir field reserves holds between 1 trillion and 2.5 trillion cubic feet, Egyptian oil officials said.
Export of gas is one of the options for developing the field, Fahmy said.
He said Egypt was in talks with various companies in Italy about taking part in projects to build liquefied natural gas terminals there, but declined to give details.